Overall, CS5 feels like a series of refinements, and feature add-ons to products that were already very powerful. This has its pros and cons, and it’s not like they’re the only company out there gradually releasing updates and refinements to established products. I’m not sure what else we should expect from Adobe, as continual refinement is a necessary part of staying vital in the community. If they make too drastic changes, then they would be at the mercy of consumers who have established workflows and might move elsewhere if those are disturbed.  On the other hand, if they don’t innovate at all, they risk becoming stagnant and irrelevant.

All in all, I think they’re doing alright. CS5 is a step forward, with some new features and surprises in your favourite applications. If you’re a Web Developer in a big or small company, you’ll find some of the new features in Flash, Illustrator and Photoshop particularly useful. It might not rock your world, but it is a step forward. If it were just a fraction cheaper, it would probably be ideal.